which nationwide savings account?

loveGSDs

hey

looking for a bit of advice on savings accouns with nationwide.

i currently have a flex account with them and an ISA. iv reached my limit on the ISA for this tax yr and want to open a new account to deposit approx £600 per month, it needs to be an account that i can move money around tho, not a fixed one

iv looked at a few but find it all very confusing, i presume i will be taxed on these savings as well. anyone know how this works? do they just take the tax from the interest?

looking on line the 'regular savers' looks the best for me, does anyone use this one?

sorry for the long post

kayla xx

hermante

if you want to stay with nationwide then the "regular saver" looks like the best account for you, as long as you only have 500-1k per month. They will pay you interest after taking 20% tax off, so unless you are earning more than 35k per year, you don't have to do anything. If you earn less than 7475 this tax year then you can stop them taking the tax off.

opinions4u

There's a big wide world out there beyond Nationwide.

Start with the links at the top of this page.

meatandtwoveg

Nationwide take the peeeees considering they are mutual, look else where.............................

loveGSDs

thanks for your replies

i had only wanted to stick with nationwide cause then my money is in one place

suppose thats a bit daft if i can get a better rate elsewhere

i'l shop around

oldvicar

The Nationwide Regular Saver isn't bad at 2.5% (when you save £500-1000 each month). I have one, and the ability to instantly transfer to a Flexaccount is a boon.

The sting in the tail is that lower or no interest is paid in a (calendar) month when you make a net withdrawal, so you don't want to be dipping into it regularly. When I withdraw I take it all out (except £1), as close to the start of the calendar month as possible to put into e.g. an instant access account or other investment. The next month (or several months later) I start saving regularly again.

You might find it a good account to start to save up the £5K+ you may want to invest in next year's ISA.

Sceptic001

oldvicar wrote: »

The Nationwide Regular Saver isn't bad at 2.5% (when you save £500-1000 each month)...

It isn't very good when you can get 3% or more on an instant access account with no complex rate tiers and no withdrawal restrictions. As others have said, Nationwide rates are now very poor. Sadly Nationwide is no longer a sensible place to save if you want a decent rate.